Brokerages Set NovoCure Limited (NASDAQ:NVCR) Target Price at $31.13

NovoCure Limited (NASDAQ:NVCR) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $30.88.

Several equities analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. HC Wainwright reduced their price target on NovoCure from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their price objective on NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a report on Friday, February 23rd. Wells Fargo & Company dropped their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of NovoCure in a report on Thursday, May 2nd.

Insider Activity at NovoCure

In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,921 shares of company stock valued at $127,161. Corporate insiders own 5.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in NovoCure by 57.3% during the first quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider’s stock valued at $5,619,000 after buying an additional 130,927 shares in the last quarter. Quantbot Technologies LP boosted its stake in NovoCure by 34.7% during the first quarter. Quantbot Technologies LP now owns 64,776 shares of the medical equipment provider’s stock valued at $1,012,000 after buying an additional 16,681 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in NovoCure by 1,113.7% during the first quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock valued at $80,000 after buying an additional 4,700 shares in the last quarter. SpiderRock Advisors LLC bought a new position in NovoCure during the first quarter valued at about $1,375,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in NovoCure by 66.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,580 shares of the medical equipment provider’s stock valued at $322,000 after buying an additional 8,217 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NASDAQ NVCR opened at $15.55 on Tuesday. The firm has a market capitalization of $1.67 billion, a P/E ratio of -8.59 and a beta of 0.50. NovoCure has a 1-year low of $10.87 and a 1-year high of $83.60. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.26 and a quick ratio of 5.99. The business’s 50-day simple moving average is $14.21 and its 200-day simple moving average is $13.85.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The firm had revenue of $138.50 million for the quarter, compared to analyst estimates of $131.44 million. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. NovoCure’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) EPS. Equities analysts predict that NovoCure will post -1.78 EPS for the current year.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.